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New Zealand to boost development spending

New Zealand to boost development spending

Foreign Affairs Minister Winston Peters announced a significant boost to New Zealand overseas aid in a pre-Budget speech at Parliament today.

“Budget 2018 will deliver $714.2 million in additional operating funding over the next four years to expand New Zealand’s Official Development Assistance, primarily towards the Pacific region, responding to climate change, and doing our part through multilateral and humanitarian agencies to respond to global emergencies and issues,” said Mr Peters.

“This is a clear demonstration to the international community that New Zealand is serious about addressing global and regional challenges and helping people in need.”

“Increased investment will enable New Zealand to deliver on our Pacific Reset. It will bolster our efforts to tackle priority issues like climate change in the region. We will assist our partners to make progress towards the UN Sustainable Development Goals; support youth across the region with access to health services, education and training; and promote the sustainable and inclusive growth of Pacific economies. There would be serious dangers and greater costs in not doing this,” he said.

New Zealand’s aid support for multilateral and humanitarian agencies has declined over the past nine years, and sits well below international averages.

“New Zealand’s credibility as a humanitarian donor has been tested. The funding announced today will reverse this decline and lift New Zealand’s Overseas Development Assistance to 0.28% of gross national income over the next four years,” said Mr Peters.

“Stepping up our financial contribution to multilateral institutions like the United Nations bodies and the World Bank will show New Zealand’s seriousness in being a responsible international citizen,” he said.

The Minister of Foreign Affairs’ full speech can be found here.

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